CUV 0.78% $27.19 clinuvel pharmaceuticals limited

very disappointing 09 for cuv

  1. 648 Posts.
    Last year at this time, many of us were pretty giddy about Clinuvel. They just announced they filed their IND and said they would start Phase II USA trials in 1Q 2009.

    Then in early 2009 we were told the drug would be trademarked in the first half of the year. We were again told USA trials would start.

    The company has said for 6 months on its website that their new US office will open shortly. That's just ridiculous. Shortly is weeks, not 6+ months.

    The analysts expected the share price to rise in anticipation of Phase III results. No dice.

    Well, here we are at the end of 2009. How many of us would have been happy with a .27 share price given how well the market has been doing the past 9 months?

    Now, there is a fraction of the interest in this that there used to be back in the old giddy Epitan days. And the investment has been awful if you look at it over the span of years.

    I cannot say I'm happy about things. Many of us are losing interest in this.

    Sad to think that another peer has just blown cuv out of the water. Starpharma (SPL) used to be neck and neck with CUV for years. Now, SPL is .70 while CUV is left in its dust.

    The current management team did not delivered on its pledge of having this out in 2009. They can make all the excuses they like. It was their pledge, not ours. They did all the bragging and had the infamous countdown clock. So they should take the criticism and not blame outside circumstances.

    I just was just reminded by someone of an interview back in January of 2009. The source was BioSpectrum Bureau. Wolgen had this to say:

    "...All this has to lead to our first filing for marketing authorization in late 2009"

    Not even close. No wonder the market is not showing much interest in this. It sure makes you appreciate the companies that do deliver in a reasonable time frame.

    The company is not and should not be immune to criticism. No company is.

    Flash back to a handful of years ago. Few of us long-term holders would have been happy with what we have seen up to this point. Each year at this time, it's always...well this will be the year.

    Well, this was the year...for so many other biotech companies that are now 3x, 4x, higher in share price than cuv. Companies that used to be Clinuvel's peer in the share markets. Too bad I didn't put more on those stocks.
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